EDMONTON, AB and CHICAGO, IL / ACCESSWIRE / September 27, 2022 / OneSoft Solutions Inc. (TSXV:OSS)(OTCQB:OSSIF) (“OneSoft”) and its OneBridge operating subsidiaries (“OneBridge”) are partnering with Uptake Technologies, Inc. (“Uptake”), a leader in industrial intelligence, to provide joint customers an offering to increase safety and operational efficiencies for oil and gas pipeline operators. The integration will leverage advanced operational technology (“OT”) data management using Microsoft’s Azure cloud enterprise SaaS technology.
The integration of Uptake’s “Fusion” solution with OneBridge’s Cognitive Integrity ManagementTM (“CIM”) solution is designed to facilitate a seamless, verifiable transfer of OT data (such as flow rates, pressure, et al) to the cloud and transform such data into industrial intelligence. Uptake Fusion will feeds OT data into CIM, to be aligned with pipeline integrity and various other data sets to deliver enhanced predictive analytics and maintenance processes, including improved fatigue crack growth analysis and prediction of internal corrosion growth rates. The integrated solution will be exclusive to Microsoft’s Azure cloud platform, which provides a secure, open connection for customers who use this functionality.
This collaborative effort is in response to OneBridge and Uptake customers who have expressed interest and willingness to contribute user input and experience and is expected to address two major challenges faced by pipeline operators.
The first major challenge involves ingesting industrial OT data from on-premise sites to the Azure cloud. OT data is stored in systems such as digital control systems (“DCSs”), programmable logic controllers (“PLCs”), supervisory control and data acquisition devices (“SCADA”) and Historians. These systems and corresponding databases are typically difficult to access and share in an automated, enterprise-wide fashion to enable timely and informed business decision-making. By incorporating Uptake Fusion into the integrated offering, this obstacle is securely and safely resolved.
The second major challenge is the normalization and alignment of the numerous, disparate and siloed inspection and integrity datasets that engineers need to consider when conducting comprehensive analytics to optimize decision-making. CIM provides the platform necessary to address this challenge and can incorporate all the data to enhance the CIM functionality that will ultimately help integrity teams make decisions.
OneSoft President, Brandon Taylor, stated, “Collaboration on this project aligns with our corporate and technology development roadmaps, as Uptake contributes expertise regarding OT that can supplement CIM capabilities for the benefit of our joint customers. We believe that both our companies have industry-leading technologies and the integrated offering we envision will result in first mover advantages for both parties.”
Uptake CEO Kayne Grau, added, “We strive to provide our customers with unique ecosystem partner accelerators in the chemical and oil and gas industry. Together, we help our customers better manage their risk and deliver industrial intelligence to drive high-precision operational excellence improvements.”
Uptake is the industrial intelligence system, providing actionable insight for operators across a variety of industries. Uptake gives all departments – maintenance, reliability, operations, and financial teams – a single, shared, and contextualized view of every operational asset and interaction that affects performance. Driven by powerful data science models and cloud computing, Uptake’s products deliver actionable insights that predict and prevent asset failure, increase compliance with ESG initiatives, mitigate catastrophic risk, optimize maintenance strategy, reduce repair costs, enhance productivity, and protect operator safety. With 40+ patents and recognition for leadership in Industrial AI by Gartner, the World Economic Forum, CNBC, and Forbes, Uptake is headquartered in Chicago with a presence in Canada, South America, Europe, India, and Australia. To stay up-to-date on what we’re doing, visit us at www.uptake.com and follow us on Twitter and LinkedIn.
+ 1 312-242-2167
About OneSoft and OneBridge
OneSoft has developed software technology and products that have capability to transition legacy, on-premises licensed software applications to operate on the Microsoft Azure Cloud Platform. Our business strategy is to seek opportunities to incorporate Data Science and Machine Learning, business intelligence and predictive analytics to create cost-efficient, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.
OneSoft’s wholly owned subsidiary, OneBridge Solutions Canada Inc., develops and markets revolutionary new SaaS solutions that use advanced Data Sciences and Machine Learning to analyze big data using predictive analytics to assist Oil & Gas pipeline operators to predict pipeline failures and thereby save lives, protect the environment, reduce operational costs, and address regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.
For more information, please contact:
This news release contains forward-looking statements relating to the future operations and profitability of OneSoft Solutions Inc. (the “Company“) and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, “believe”, “will”, “intends”, “plans” and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided to deliver information about management’s current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.
In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: the impact of Covid-19 on the business operations of the Company and its current and prospective customers; the availability and cost of labor and services; the efficacy of its software; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally and which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and is reasonably accurate; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; that there are no unforeseen material development or other costs related to current growth projects or current operations; the success of growth projects; future operating costs; interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; the sufficiency of budgeted capital expenditures in carrying out planned activities; and no changes in applicable tax laws. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.
Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by Canadian securities law.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: OneSoft Solutions Inc.